External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

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<li>We reinstate our stance on Bank of Punjab (BOP) as ‘Hold’ after the announcement of its 2017 and 1Q2018 financial results. The bank has 1) booked required provisions well in advance; 2) depicted improved earnings profile as BOP booked earnings of Rs0.7/share, up 24% YoY in 1Q2018,  and 3) achieved capital requirement of SBP but is expected to remain on borderline, which warrant caution.</li>
<li>BOP booked pending provisioning against NPLs of Rs14bn in 2017, an year earlier than it was actually required…</li>
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We reinstate our stance on Bank of Punjab (BOP) as ‘Hold’ after the announcement of its 2017 and 1Q2018 financial results. The bank has 1) booked required provisions well in advance; 2) depicted improved earnings profile as BOP booked earnings of Rs0.7/share, up 24% YoY in 1Q2018,  and 3) achieved capital requirement of SBP but is expected to remain on borderline, which warrant caution.
BOP booked pending provisioning against NPLs of Rs14bn in 2017, an year earlier than it was actually required…


Bank of Punjab (BOP): Reinstate with 'Hold'